May 11, 2017: How a Revenue Risk P3 Approach is Restoring the Historic Angels Flight Railway in Downtown L.A.

Description

ARTBA’s P3 Division will offer a free webinar May 11 on how a revenue risk P3 approach is helping to restore a historic transportation treasure in downtown Los Angeles.

Steve D. DeWitt, PE, senior vice president of business development at ACS Infrastructure Development, Inc. and the current P3 Division president, will discuss the Angels Flight funicular, an inclined cable railway built in 1901. Angels Flight was a key transportation link for many decades before being disassembled and placed into storage in the late 1960s. Reassembled in the mid-1990s, it is an iconic remnant of early 20th century Los Angeles and has been featured in numerous television shows and movies – including the Academy Award-winning La La Land. Nicknamed “the world’s shortest railway,” it closed again in 2013 due to operational concerns. Now, ACS Infrastructure and its partners have agreed to a 30-year revenue risk concession to restore and operate Angels Flight, which is set to reopen later this year.

The webinar will also include an update from Seth W. Miller Gabriel, the director of the Office of Public-Private Partnerships for the District of Columbia, on their current activities and plans for projects in the near future.

ARTBA is a federation whose primary goal is to aggressively grow and protect transportation infrastructure investment to meet the public and business demand for safe and efficient travel. In support of this mission, ARTBA also provides programs and services designed to give its public and private sector members a global competitive edge.